en.Wedoany.com Reported - Liven Kodu 25 OÜ, a wholly owned subsidiary of the Estonian real estate developer Liven AS Group, has signed a notarized agreement to acquire three development plots located at Pärnu maantee 35, 37, and 41 in Tallinn city center.

The transaction amount is €10 million, with the total estimated investment for the project reaching approximately €40 million. According to the notarized sales agreement, ownership of the properties will be transferred to Liven upon the signing of the property rights agreement, which is planned to be completed within a maximum of two months. The plots are intended for the construction of three buildings ranging from 3 to 7 stories, with a total above-ground floor area of 15,000 square meters, of which approximately 80% will be residential and 20% commercial space; commercial spaces open to the public will be located on the ground floors of the buildings along Pärnu maantee. The project plans for over 160 residential units in total, with the final number and design to be determined during the design process. Construction is scheduled to begin at the end of 2027, and the project will be carried out in phases, with completion expected between 2029 and 2031.

The planned residences will emphasize functionality and energy efficiency, and will feature private, well-landscaped inner courtyards, offering a thoughtfully designed living environment amidst the city center pace.

Andero Laur, Chairman of the Management Board of Liven, stated that the acquisition of the Pärnu maantee plots will bring Liven's homes to one of the most renowned and best-connected locations in Tallinn city center, with work, schools, services, and leisure all within easy reach—a city center location that many homebuyers have long been waiting for. He also noted that the new development is a significant addition to Liven's long-term development portfolio, will support Liven's performance in 2029-2031, and will enable the effective utilization of recently raised funds.